What is cost and billable rate

• Cost rate- an amount of money which you pay your employees for an hour of work
• Billable rate- an amount of money which you charge your client per hour

Probably cost and billable rates of your employees will be distinct from each other. In Timenotes, you can customize rates, set it differently for each employee and client. There is also a possibility to set equal cost/billable rates for all members assigned to a particular project or fixed rates by default. You can find out more about rates in the related guides.

Related guides:

How to update the time entries billable and cost rates

How to change the default cost and billable rate

How billable and cost rates are calculated per project and time entry